Laserfiche WebLink
M:cn.11a <br />Proposal Review <br />After each deadline for the Open RFP Process, the Housing Division staff shall review the <br />Proposal to determine that the minimum Program and RFP Process requirements are met <br />(minimum threshold review). Proposals that do not meet the minimum threshold review will be <br />considered non-responsive. If the Proposal meets the minimum threshold review, the Housing <br />Division will form a Review Panel. The Review Panel for the RFP Process will consist of at <br />least one employee from the City's Public Works Agency, Planning and Building Agency, and <br />Community Development Agency and one outside agency or government -entity. If an employee <br />is not available in one department, a second employee may be requested from one of the other <br />two departments so long as there are at least two of the three City Agencies represented on the <br />Review Panel. <br />Using the scoring and selection criteria provided in the RFP Process and provided below, the <br />Review Panel shall determine whether the proposal is recommended for a pre -loan commitment, <br />with or without conditions. Including the scoring and selection criteria, the Review Panel shall <br />review the design of the proposed project for appropriateness for the proposed target group, <br />compatibility with surrounding uses, cost effectiveness of construction, and appropriateness of <br />the design and construction for low maintenance and long term durability. Proposed projects <br />must receive a minimum threshold score of 75 points to move forward with the proposal review <br />process. If the Review Panel determines, in its discretion, that the Proposal may be <br />recommended for approval, the Housing Division shall request an underwriting and subsidy <br />layering review by a real estate advisor selected by the City. The real estate advisor shall <br />confirm the underwriting for the Project, the financial gap, and other programmatic requirements <br />related to the funding sources. If the Review Panel determines that the Proposal will not be <br />recommended for approval (i.e. the Proposal does not meet the minimum threshold score of 75 <br />points), the Developer will be notified in writing of the decision and the result will be published <br />in the Housing Division Quarterly Report. <br />City Councillrritiated Proposal Review <br />A Developer may submit a request for a sole source award of funding directly to the City <br />Council (the request cannot exceed the amount of the City's total Available Funds as published <br />on a quarterly basis in the Housing Division Quarterly Report). At least one Councilmember <br />must then submit a written request to staff to review the Developer's proposal. After a written <br />request has been received, staff will request a complete proposal from the Developer. After the <br />proposal has met a minimum threshold review by staff, the project will undergo an underwriting <br />and subsidy layering review analysis by a real estate advisor selected by the City, to be paid for <br />by the Developer. After the analysis has been completed, staff will present the real estate <br />advisor's analysis and the proposal to City Council for direction without any recommendation(s) <br />from staff on funding or not funding the project. If City Council requests a second real estate <br />analysis to be conducted, the City will pay for the second analysis, not the developer. <br />Affordable Housing Funds Policies and Procedures <br />Page 10 <br />